Toro (NYSE:TTC) Issues FY 2022 Earnings Guidance

Toro (NYSE:TTCGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $4.07-$4.17 for the period, compared to the consensus EPS estimate of $4.10. The company issued revenue guidance of $4.51 billion-$4.51 billion, compared to the consensus revenue estimate of $4.50 billion.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TTC shares. Northcoast Research raised shares of Toro from a neutral rating to a buy rating in a report on Tuesday, September 6th. StockNews.com downgraded Toro from a buy rating to a hold rating in a research report on Friday, September 16th. Finally, Robert W. Baird lowered their target price on Toro from $108.00 to $94.00 and set a neutral rating for the company in a research note on Tuesday, May 31st.

Toro Stock Down 1.9 %

Shares of NYSE:TTC opened at $87.75 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.66 and a current ratio of 1.59. Toro has a 52-week low of $71.86 and a 52-week high of $106.31. The company has a market capitalization of $9.14 billion, a PE ratio of 24.04 and a beta of 0.76. The company has a fifty day moving average of $86.68 and a 200-day moving average of $83.41.

Toro (NYSE:TTCGet Rating) last posted its earnings results on Thursday, September 1st. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.13 by $0.06. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. Toro had a return on equity of 32.35% and a net margin of 8.97%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. On average, equities analysts predict that Toro will post 4.2 EPS for the current fiscal year.

Toro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, October 4th. Toro’s payout ratio is currently 32.88%.

Insider Activity at Toro

In other Toro news, CEO Richard M. Olson sold 12,600 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $76.33, for a total transaction of $961,758.00. Following the completion of the sale, the chief executive officer now owns 9,575 shares of the company’s stock, valued at approximately $730,859.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Amy E. Dahl sold 2,600 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $89.81, for a total transaction of $233,506.00. Following the transaction, the vice president now owns 18,706 shares in the company, valued at approximately $1,679,985.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard M. Olson sold 12,600 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $76.33, for a total transaction of $961,758.00. Following the completion of the sale, the chief executive officer now owns 9,575 shares of the company’s stock, valued at $730,859.75. The disclosure for this sale can be found here. Insiders sold 30,861 shares of company stock worth $2,598,046 over the last three months. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Toro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTC. Legal & General Group Plc increased its holdings in shares of Toro by 0.6% during the second quarter. Legal & General Group Plc now owns 216,494 shares of the company’s stock valued at $16,408,000 after acquiring an additional 1,326 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Toro by 1.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 533,232 shares of the company’s stock worth $40,413,000 after acquiring an additional 6,552 shares during the last quarter. Centiva Capital LP bought a new position in Toro in the 2nd quarter valued at about $269,000. First Republic Investment Management Inc. increased its holdings in Toro by 23.2% during the 2nd quarter. First Republic Investment Management Inc. now owns 9,343 shares of the company’s stock worth $708,000 after purchasing an additional 1,759 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Toro in the second quarter valued at approximately $42,000. 85.24% of the stock is owned by institutional investors.

Toro Company Profile

(Get Rating)

The Toro Company engages in the designing, manufacturing, marketing, and selling professional and residential equipment worldwide. The company's Professional segment offers turf and landscape equipment products, including sports fields and grounds mowing and maintenance equipment, golf course mowing and maintenance equipment, landscape contractor mowing equipment, landscape creation and renovation equipment, and other maintenance equipment; rental, specialty, and underground construction equipment; and snow and ice management equipment, such as snowplows, brush, snow thrower attachment, salt and sand spreaders, and related parts and accessories for light and medium duty trucks, utility task vehicles, skid steers, and front-end loaders.

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